Attribution Analysis in Performance Evaluation

During a quarterly performance review, a portfolio manager analyzed the performance of a multi-asset fund. The fund returned 8% during the quarter, while the benchmark return was 6%. The manager noted that the fund's overweight position in technology stocks contributed positively, while an underweight in energy stocks detracted from performance. They utilized attribution analysis to provide a clearer picture of drivers of excess return.

Which of the following statements regarding attribution analysis is most accurate?